Cencora (NYSE:COR) Releases Earnings Results, Beats Expectations By $0.23 EPS

Cencora (NYSE:COR) posted its quarterly earnings data on Wednesday. The company reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23, Zacks reports. Cencora had a return on equity of 266.62% and a net margin of 0.51%.

Cencora Price Performance

Shares of COR traded down $1.21 during mid-day trading on Friday, hitting $244.92. 55,520 shares of the stock were exchanged, compared to its average volume of 1,341,219. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The company has a market cap of $47.34 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 1.59 and a beta of 0.49. Cencora has a 52-week low of $214.77 and a 52-week high of $262.26. The firm has a 50-day moving average of $239.08 and a two-hundred day moving average of $236.51.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, February 14th. Cencora’s dividend payout ratio is presently 29.29%.

Insider Activity at Cencora

In other news, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the sale, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 50,000 shares of Cencora stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the transaction, the chairman now directly owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,187 shares of company stock valued at $17,790,912. 10.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on COR. UBS Group upped their price target on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target on the stock. Robert W. Baird increased their price objective on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lifted their target price on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $277.90.

Cencora Company Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.